By Amey Stone

The stock market is having a great year, but some investment pros worry that some stocks and sectors are at risk because of geopolitical uncertainty. In our latest Barron's Advisor Big Q, we asked them where they have been reducing their positions. Some are trimming in energy and consumer discretionary; others are rebalancing Nvidia and Meta positions that have appreciated considerably.

In other most-read wealth management articles this week:

Are annuities too hot to handle? Annuities are more popular than ever, yet many investors in those products say they are confusing and report low levels of satisfaction, a new survey from J.D. Power has found. The research firm also found 43% of annuity investors said they didn't fill out their own paperwork. These findings highlight the need for advisors and agents to do more to educate investors about how the products work.

LPL makes CEO pick official. LPL Financial officially gave its interim CEO, Rich Steinmeier, the permanent job. The large independent broker-dealer had fired former CEO Dan Arnold earlier this month for making statements to employees that violated the company's code of conduct. Steinmeier, 50, has been with LPL since 2018, helping steer the company's business strategy and growth.

Election mistakes clients make . Wealth management clients can let emotions related to politics wreak havoc with their portfolios, which makes the looming presidential election a hazardous event for some investors. Columnist Jonathan I. Shenkman shares tips advisors can use to prevent clients from veering into unproductive political rants and making rash decisions that can undermine their financial plans.

RayJay's earnings beat . Raymond James Financial blew past Wall Street's expectations for its quarterly results this week. The St. Petersburg, Fla.-based financial-services company reported adjusted earnings per share of $2.95 for its fiscal fourth quarter. Analysts had expected EPS of $2.41. Raymond James said a surge in investment banking revenue and strong performance by its wealth management unit boosted its performance.

Merrill's advisor comp stays steady . Bank of America brokerage unit Merrill Lynch unveiled its 2025 compensation plan for the thundering herd, and the theme is steady as it goes. Next year's compensation is nearly identical to this year's, although Merrill is making a small change by lowering hurdles for a number of advisors who don't work near a Bank of America branch to earn its banking growth award.

Write to Amey Stone at amey.stone@barrons.com

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October 25, 2024 14:29 ET (18:29 GMT)

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